Notice to Members
Notice No. 258 05/14/2007
Cross Division Rates (Blended Rates)
In late 2006, the NYMEX and COMEX Division membership approved a Transaction Agreement which, among other things, modified electronic and other trading rights of COMEX Division members; as part of the changes adopted certain cross division trading fees affecting both NYMEX and COMEX Division members were implemented and/or modified. As part of the implementation of these cross divisional fees, effective with the open of business June 1, 2007, and until November 2011 [five (5) years from the closing of the transaction], cross division fees will be available only to NYMEX or COMEX trading right owners who are natural persons trading for their own account and have not leased out their trading right as well as ABC designated employees, who are natural persons trading for their own account. At the end of the five year term, cross division fees for these individuals will default to non-member rates unless otherwise determined by the Board. NYMEX or COMEX, Member Firms, Lessee members and Option trading right holders, as applicable will no longer be eligible for the cross division fee when trading contracts of the other division. Non-Member fees will apply to these entities and individuals when trading cross division contracts. Please refer to the COMEX Division By-Laws for details regarding these changes.
Should you have any questions or require any further information, please contact exchangeinfo@nymex.com